When you listen to today’s Real Estate Coaching Radio you will learn exactly what it takes to be successful long term in real estate. The simple (sad) fact is that real estate has an incredibly low SUCCESS rate. In other words, very few people actually succeed long term as full-time real estate professionals. Tim and Julie Harris share with you now what it truly takes to build a real estate practice that produces ever-increasing levels of success and income.
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Here are the next points. Please listen to the 2 prior podcasts for the prior points. Here is the link for the first of this 3 part series. https://timandjulieharris.com/2021/01/18/podcast-new-agent-or-returning-agent-immediate-action-plan-tim-and-julie-harris.html
14 Complete your Real Estate Treasure Map for your Big Picture plan. -or-
15 Follow the Survival Plan short term, 60 to 90 days, until you have at least 3 pending transactions, then convert to your Treasure Map or the 90 Day Massive Action Plan.
16 Set up 3 bank accounts. 1 for operations (you pay your business bills from this), 1 for savings (save at least 5% from every check), and 1 for taxes (save 20% off every check). Remember that 25% of your net commission is set aside for taxes and savings. Don’t start out by getting behind!
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Rules of this Plan
1 Don’t skip steps. Each and every step in this plan is designed to get you into knowledge and out of ignorance. Each step is both practical and applicable. You can do 100% of these items without spending much money. (Your CE class and training classes might cost something but aside from that, this is inexpensive education!)
2 Don’t listen to any agents, coaches, trainers, brokers or advisors who aren’t at least as successful as you intend to be. They are not authorized to advise you. Everyone will be trying to give you advice! Many will try to convince you that you’re not supposed to make any real income for at least a year. Don’t buy it. Their advice is influenced by their own experience, which may or may not have anything to do with you, your motivation, your action plan, your education or mindset. Insulate yourself from opinions.
3 Do take massive action daily. Spend 75% of your day in lead generation, 10% on education and 15% on actual appointments. Most agents spend the majority of the day getting ready to get started to possibly take action at a later date. Your #1 job in real estate is to generate leads. Nothing else matters if you are lead-less.
4 Don’t spend money you don’t have. Make the pledge to keep unnecessary, unproven, speculative items off of your credit cards. The following 4 black holes of expenditure are off limits to you.
5 Do make sure you’re with the right broker. It’s disruptive and costly to move brokerages, especially multiple times. Interview with several, understand their benefits, market share, reputation, commission schedule and culture. Make an informed decision and stick with it for at least a year. If you do have to make a switch, do it between Christmas and New Year’s to minimize disruption to your cashflow and momentum.
6 Do tune in to our Podcasts daily: www.RealEstateCoachingRadio.com We will be your primary ‘master mind’, advisor, educator and advocate.
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